I recently noticed that someone else has created the exact service I was envisioning with the exact same name. As the .com was taken (by me) they registered it with a different suffix.
Ex: I was planning foobarservice with the domain foobarservice.com and they registered (and went live with) foobarservice.blah.
I'd still like to pursue this idea and I really like the name.
Would it be wrong to do so? Answers for both the moral and (IANAL-qualified...) legal question would be appreciated.